Jeera Closes Higher On Surge In Demand

Jeera prices closed higher by 1.22 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions.

At the NCDEX, jeera futures for May 2016 contract closed at Rs. 16,585 per quintal, up by 1.22 per cent, after opening at Rs. 16,260 against the previous closing price of Rs. 16,385. It touched the intra-day high of Rs. 16,590.

Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.